Alwaght- India ranked second in terms of trade volume with Saudi Arabia in 2022, amounting to $52.45 billion and registering an annual growth rate of 51 percent
India and Saudi Arabia have signed over 50 agreements in information and communication technology, entrepreneurship, chemicals, energy and advanced manufacturing, with the aim of strengthening their economic ties.
The agreements were signed at the Indo-Saudi Investment Forum in New Delhi, on the sidelines of an official state visit by Saudi Crown Prince Mohammed bin Salman for the G20 summit.
Some of the agreements include an initial agreement between Al Jomaih Energy and Water and Avaada Energy for the engineering, construction, procurement and co-development of solar, wind and hybrid energy storage projects in West Asia.
India ranked second in terms of trade volume with Saudi Arabia in 2022, amounting to $52.45 billion and registering an annual growth rate of 51 percent.
In addition, Saudi Arabia plans to "open an office for the Ministry of Investment in India" and is expected to send a delegation shortly.